Analysts Set OR Royalties Inc. (NYSE:OR) PT at $35.75

Shares of OR Royalties Inc. (NYSE:OR) have received a consensus rating of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $35.75.

A number of research analysts have issued reports on the company. Canaccord Genuity Group upgraded OR Royalties from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings restated a “buy (b)” rating on shares of OR Royalties in a research note on Monday, December 29th. Zacks Research lowered shares of OR Royalties from a “strong-buy” rating to a “hold” rating in a report on Friday, December 19th. Raymond James Financial raised shares of OR Royalties from a “market perform” rating to an “outperform” rating and set a $41.00 price objective for the company in a research note on Thursday, November 6th. Finally, Scotiabank lowered shares of OR Royalties from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $33.00 to $41.00 in a research report on Thursday, October 23rd.

OR Royalties Price Performance

Shares of OR opened at $40.97 on Wednesday. The firm has a 50 day simple moving average of $34.93 and a two-hundred day simple moving average of $33.33. OR Royalties has a one year low of $17.55 and a one year high of $42.25. The company has a market cap of $7.67 billion, a P/E ratio of 51.85 and a beta of 0.78.

OR Royalties (NYSE:OR) last issued its quarterly earnings results on Wednesday, November 5th. The basic materials company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. OR Royalties had a return on equity of 10.67% and a net margin of 60.72%.The company had revenue of $71.63 million for the quarter, compared to analyst estimates of $53.85 million. On average, analysts expect that OR Royalties will post 0.62 earnings per share for the current fiscal year.

OR Royalties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.055 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $0.22 annualized dividend and a dividend yield of 0.5%. OR Royalties’s dividend payout ratio (DPR) is 27.85%.

Hedge Funds Weigh In On OR Royalties

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in OR Royalties by 20.5% in the third quarter. Van ECK Associates Corp now owns 15,561,057 shares of the basic materials company’s stock valued at $623,686,000 after acquiring an additional 2,650,333 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of OR Royalties by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,679,045 shares of the basic materials company’s stock worth $307,776,000 after purchasing an additional 233,504 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of OR Royalties by 39.2% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,543,667 shares of the basic materials company’s stock valued at $302,419,000 after purchasing an additional 2,124,421 shares during the last quarter. Picton Mahoney Asset Management bought a new position in shares of OR Royalties during the 2nd quarter valued at about $96,617,000. Finally, Tidal Investments LLC raised its holdings in shares of OR Royalties by 25.4% during the 3rd quarter. Tidal Investments LLC now owns 2,347,760 shares of the basic materials company’s stock valued at $94,098,000 after buying an additional 474,840 shares in the last quarter. Institutional investors and hedge funds own 68.52% of the company’s stock.

About OR Royalties

OR Royalties PLC (NYSE: OR) is a closed-ended investment company that specializes in acquiring and managing royalty interests in life science and pharmaceutical products. The company provides capital to biotechnology, specialty pharmaceutical and medical device companies in exchange for a share of future sales revenues. By focusing on royalties secured against marketed products, OR Royalties aims to deliver income and growth potential while minimizing the development and commercialization risks typically associated with direct equity stakes.

The company’s core activities include sourcing royalty transactions, structuring bespoke financing solutions and actively monitoring a diversified portfolio of assets.